Just Say No: Bancrofts Decline News Corp Deal
According to MarketWatch, the Bancroft Family have voted just 28% of the family shares in favor of the News Corp acquisition, short of the 30% threshold required to make the deal work.
Recent comments have Murdoch standing firm on his $60 per share offer, so it looks as though the deal may fall apart.
While this may provide a reprieve in terms of editorial integrity, it won't be all wine & roses at Dow Jones. The offer has served as a wake-up call for the Company and we can expect to see belt tightening in the months to come.
Comments